The "Who" Behind the Numbers
Dec 06, 2017 12:02PM
By Don and Norma Flaskerud
By Norma Flaskerud
After celebrating thirty years in real estate, let’s take a look back on clients from 2017 and ask, “Why did they sell?” Inventory may be low, but we still have an active real estate market.
These clients were neither baby boomers aging in place nor families needing larger homes and adding on rather than moving. There were a multitude of sellers and a multitude of reasons for selling. We thought you would find it interesting to know why the people we represented sold in 2017 when so many did not.
Out of nearly thirty sales, six clients sold homes to move near family. They took their built-up home equity and bought where they got a much larger, newer home for the same or less money than the house they sold. Where? El Dorado Hills; Reno, Nevada; South Carolina; and Arkansas! Sandy moved to Arkansas to be near her son in a nice, big, newer house on an acreage for half of what she sold her Pleasant Hill house for! Vicki paid all cash for a larger, newer home in South Carolina. Hank is enjoying a sprawling house near family on an acreage in Virginia. Another is buying a lovely, newer home in a Sacramento suburb, allowing them to bank much of the money from their sale for retirement. Mike sold his investment property and is using the money for retirement.
Health issues and aging forced four of our clients to sell. They moved to assisted living or stayed with family. Three sold for tax purposes; by doing a 1031 tax deferred exchange and moving into an investment property they already owned, they made it their primary residence, thereby avoiding paying capital gains taxes when they sell.
Two of our clients sold, took their equity, downsized into a rental, and stayed local. Four of the homes we sold were for heirs due to deaths in the family. Divorce played a hand in one sale. Of course, we represent buyers as well and include two move-up buyers, one all cash investor, plus first-time buyers.
As you can see, life events happen and people need to move on. We hope you’ve enjoyed reading this snapshot of why some people sold their homes here in 2017. It represents a cross section of life and is expected to continue as we represent our sellers moving forward. Call Don and Norma of RE/MAX Today at 925-338-2980 or email [email protected]